MARA acquiring Texas wind farm for better Bitcoin mining operations

MARA Holdings, formerly known as Marathon Digital, announced plans to purchase a wind farm in Hansford County, Texas, to power its sustainable Bitcoin mining data center.

According to the company’s press release, the wind farm, with 240 megawatts of interconnection capacity and 114 MW of operational wind generation, will allow MARA to create a vertically integrated operation with zero marginal energy costs.

The agreement represents a strategic shift for MARA as it aims to integrate renewable energy into mining activities that require significant computing power. Mining involves solving complex mathematical problems to verify transactions on the Bitcoin (BTC) network and consumes significant amounts of energy. The proposed data center would be powered entirely by the wind farm, reducing reliance on traditional energy sources and relieving pressure on the Texas power grid.

MARA CEO Fred Thiel highlighted the broader benefits of the acquisition, including reducing Bitcoin production costs and reusing old mining hardware.

“This acquisition serves as a blueprint for collaboration between the energy and data center industries to create long-term value while advancing sustainability initiatives,” Thiel said.

ASIC miner lifespan

A key element of the project is MARA’s Advanced ASIC Retirement Initiative. This program will redesign older ASIC mining machines (specialized hardware used in Bitcoin mining), extending their operational life and preventing them from being thrown away or sold.

When a wind/solar farm pairs with a Bitcoin mining company, it sees a 2.3x faster return on investment on its renewable investments

They use the profits to build more wind/solar capacity and accelerate the energy transition

Scholars have shown this (Lal et al., Hakimi et al.)
MARA does this https://t.co/9KbcjAbI6L

— Daniel Batten (@DSBatten) December 3, 2024

These machines will be powered by renewable wind energy, creating a cost-effective and environmentally friendly mining model.

This acquisition aligns with MARA’s broader sustainability goals as the company continues to develop a global network of data centers powered by renewable energy. The transaction is expected to be completed in the first quarter of 2025, subject to regulatory approvals.